Allen Filed His 2017 Tax Return on May 15th, 2018

question 61

Multiple Choice

Allen filed his 2017 tax return on May 15th, 2018 and underreported his gross income by30 percent. Assuming Allen's underreporting is not due to fraud, the statute of limitations for IRS assessment on Allen's 2017 tax return should end:

• A) April 15th, 2020.
• B) April 15th, 2021.
• C) May 15th, 2021.
• D) May 15th, 2020.
• E) None of the choices are correct.

---

Definitions:

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms or expectations.

Social Loafing

The phenomenon where individuals exert less effort when working in a group compared to when working alone, due to perceived diffusion of responsibility.

Groupthink

Groupthink is a psychological phenomenon where the desire for harmony and conformity within a group leads to irrational or dysfunctional decision-making outcomes.

Democratic

Relating to or supporting democracy or its principles, where power is vested in the people and exercised directly by them or by their elected agents under a free electoral system.